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(Ord, NE) – A new revolving loan fund is now available for use by businesses that reside in the Loup Valleys Rural Public Power District service territory. Details of the new economic development fund are:

— Loan requests cannot exceed 50% of total project costs nor exceed the amount available in the fund pool— Applicants must have 10% equity at a minimum— $25,000 per quality job can be loaned— Interest rates will be fixed for the duration of the loan and determined on a case-by-case basis— Loan repayment will take place over a 1 to 10 year term, depending on the project.

Interested parties seeking financing should contact Chuck Fuhrer at Loup Valleys Rural Public Power District at (308) 728-3633. Approximately $88,000 is now available.

Funds are available to LVRPPD customers or businesses that reside in the LVRPPD service territory. The LVRPPD service territory encompasses all of Valley (except Ord) and Garfield Counties, the west half of Wheeler and Greeley Counties, the north three-fourths of Sherman County and small areas in Custer County (around Comstock and the Calamus Dam).

These funds were made possible by a collaborative grant from the USDA Rural Development made to LVRPPD and Valley County. Grant proceeds established a revolving loan fund through the Rural Economic Development Loan and Grant program at USDA-RD. Details on the grant award, made in 2010, can be found here.

This entry was posted
on Thursday, September 20th, 2012 at 11:35 am and is filed under Work in Ord.
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